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LOS ANGELES, Feb. 06, 2025 (GLOBE NEWSWIRE) -- Barfresh Food Group Inc. (the “Company” or “Barfresh”) (Nasdaq: BRFH), a provider of frozen, ready-to-blend and ready-to-drink beverages, today announced the completion of a $3 million financing round for common stock at $2.85 per share, primarily supported by existing shareholders. This strategic investment will fuel the Company’s expansion of manufacturing capabilities to meet growing customer demand, following continued customer wins through its education channel and strong market feedback from select testing for its new Pop & Go™ 100% Juice Freeze Pops. The Company expects this financing will enable it to achieve positive cash flow.
The financing will enable Barfresh to improve margins by scaling production capacity to fully serve current customer commitments and support aggressive profitable growth initiatives to capture opportunities within the existing sales pipeline. The timing of this investment aligns with the Company’s preparations to introduce its new Pop & Go™ 100% Juice Freeze Pops to the education market, following highly positive feedback during initial testing in select school locations. The Company continues to build momentum, having secured a large number of new customers within the education channel, demonstrating growing demand for its suite of better-for-you smoothie beverages.
Riccardo Delle Coste, the Company’s Chief Executive Officer, stated, “This funding round represents a strong vote of confidence from our existing investors and validates our profitable growth strategy. With this additional capital, we are well-positioned to meet the increasing demand from our customers and capitalize on the significant opportunities in our pipeline. The enthusiastic response to our Pop & Go™ in test markets and this expanded manufacturing capacity will enable us to capture a larger share of the education market, where we’ve only scratched the surface of the opportunity."
About Barfresh Food Group
Barfresh Food Group Inc. (Nasdaq: BRFH) is a developer, manufacturer and distributor of ready-to-blend and ready-to-drink beverages, including smoothies, shakes and frappes, primarily for the education market, foodservice industry and restaurant chains, delivered as fully prepared individual portions or single serving and bulk formats for on-site preparation. The Company’s single serving, on-site prepared product utilizes a proprietary, patented system that uses portion-controlled pre-packaged beverage ingredients, delivering a freshly made frozen beverage that is quick, cost efficient, better for you and without waste. For more information, please visit www.barfresh.com.